Shapland was previously managing director for the UK & Middle East of RBC Investor and Treasury Services, and he replaces Stephen Mohan, who left the company a month ago.
“The business is growing rapidly and so Allfunds Bank were looking for someone with greater experience in UK and internationally to take it on,” a spokesman said.
He added that the business continues to expand in the UK and that Shepland had been brought in to take it into its next phase.
The platform already has over €200bn (£142bn) under administration, and in the UK it services 30 significant financial institutions with other players “yet to be announced”.
"Allfunds Bank were looking for someone with greater experience in UK and internationally to take it on"
Shapland spent a decade at RBC and RBC Dexia Investor Services, where he undertook a number of senior roles, including responsibility for the company’s UK branch overseeing some 350 staff and managing strategic relationship management in the day-to-day account management function.
In his new role, he will report to Gianluca Renzini, Allfunds bank’s deputy general manager and he will lead the London office that today administers in excess of £15bn of assets.
Renzini said Shapland has significant experience in funds administration and is “very well-placed to take forward our UK business to the next stage. We continue to believe our UK and Irish business will be one of the main drivers of growth of Allfunds Bank over the coming decade”.
Allfunds Bank has a local presence in Spain, Italy, UK, Chile, UAE, Switzerland, Colombia and Luxembourg and has more than 450 institutional clients, including major commercial banks, private banks, insurance companies, fund managers, financial supermarkets, international brokers, and specialist firms from 33 different countries.